UMB Bank v. CEC

Below are selected documents from the lawsuit commenced on June 15, 2015, by UMB Bank, N.A., solely in its capacity as successor Indenture Trustee for the Caesars Entertainment Operating Company, Inc. 11.25% Notes due 2017, 8.5% Senior Secured Notes due 2020 and 9% Senior Secured Notes due 2020 (2 tranches issued under separate indentures) (collectively, the “First Lien Notes”), against Caesars Entertainment Corporation (CEC) in U.S. District Court for the Southern District of New York, Case No. 15-cv-4634.

The lawsuit seeks a declaratory judgment “recognizing that [CEC’s] self-declared, completely non-consensual purported ‘release’ of its obligations as Parent Guarantor under the First Lien Indentures is void for violation of both the [TIA] and the express terms of the First Lien Indentures themselves.” The specific claims asserted in the UMB bank complaint are for (1) breach of contract, (2) declaratory judgment that the guarantee are in full force and effect, (3) violations of the TIA, (4) breach of duty of good faith and fair dealing, and (5) payment of costs and expenses.

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